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| Peristent, 1M/1M join hands to connect entrepreneurs |
| BS Reporter / Mumbai/ Pune Feb 19, 2011, 00:43 IST |
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One Million by One Million (1M/1M) initiative and Persistent Systems have together announced a partnership to connect entrepreneurs to customers. The 1M/1M initiative setup by Sramana Mitra has a goal to help a million entrepreneurs reach $1 million in revenue.
Persistent Systems, engaged in the outsourced product development (OPD) business which works with more than 250 customers and will be reselling and also be a channel for products from select 1M/1M entrepreneurs. In addition, Persistent Systems will also provide outsourced product development services to these companies.
"The 1M/1M philosophy is to focus our entrepreneurs on customer acquisition and early validation without burning through a huge amount of cash. Towards that end, we introduce entrepreneurs to partnership opportunities where they can go to the market efficiently by leveraging other people's channels. Our partnership with Persistent is one such big opportunity,” explains Sramana Mitra, founder of 1M/1M.
"We at Persistent are very excited to work with 1M/1M in helping entrepreneurs succeed by bringing new technologies to market. We have been proactively investing in new technology areas such as cloud computing, mobility, BI/analytics and collaboration and believe that technologies developed by young companies such as CrowdEngineering when sold through right channels can have a significant impact in the market," said Anand Deshpande, chairman and managing director, Persistent Systems.
CrowdEngineering is the first 1M/1M company to be leveraging this partnership which is a venture based in Pisa, Italy, and Sunnyvale, California, that develops enterprise level crowd sourcing platforms and solutions to enable crowd sourced customer support.
“1M/1M is a great programme for entrepreneurs running businesses in the most difficult and vulnerable phases of growth which is the pre-1M$ revenue stage. I look forward to the leverage that this deal with Persistent Systems will bring CrowdEngineering in terms of a cost-effective go-to-market solution, and to working with Persistent’s global sales team and technology experts,” Gioacchino La Vecchia, CEO at CrowdEngineering said.
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